How do I know if I have gap insurance?
How can I find out if I have gap insurance? My car was totaled in an accident, and I am upside-down on the loan. I remember talking about buying gap insurance at the dealership, but I can't remember if I did. Is there any way I can check?
I’m so sorry about your car—I hope you’re doing okay! To answer your question, though, your gap insurance would have been purchased at the time you bought your vehicle or added to your car insurance policy around the same time. Here’s what to do:
- Check your insurance policy. It would show as gap insurance or loan/lease coverage
- Contact the bank that has your car loan if you don’t see it there. They should be able to tell you if it’s part of your loan.
- Check with your dealership if your bank doesn’t have the information you need. You may have purchased a stand-alone gap policy!
Hopefully, you can locate your gap policy. If you find that you don’t have one, unfortunately, you will be responsible for paying whatever balance is left over to the bank after the insurance claim payout.
When you are ready to get insurance for your new car, download the Jerry app. Jerry shops prices with over 50 different insurance companies—including those that have gap insurance as part of the policy!—and delivers the lowest rates straight to your phone in seconds. That way, all you need to do is pick the plan that works best for you.
Best of luck, and hopefully you recover smoothly from the accident!
Did this answer help you?
Ask us a question by email and we will respond within a few days.
Have a different question?
You can meet us at our office and discuss the details of your question.
Read advice from car experts at Jerry
Browse by topics
What others are asking
How do you report car insurance fraud?
A friend of a friend told me they're using a fake insurance ID card. They aren't a good driver and I'm worried they're going to seriously injure someone. I know that without car insurance, they couldn't afford to pay for someone's damage or injuries. How would I report them?
Oct 22, 2021
How can I buy car insurance in California?
I live in California and I'm buying my first car. I know I need car insurance, but I haven't had to purchase it before. How do I get it?
Oct 22, 2021
Can I buy a car back from a car insurance company?
I was involved in what seemed like a minor fender bender a few months back, but my truck was declared a total loss. I know a bit about cars and my friend is a mechanic, so we thought it might be a fun project to fix the truck. The insurance company has it now, but I wondered if I could buy it off them before they scrap it?
Oct 22, 2021